Gold Prices Fall Over Rs 10,000. Check Latest Gold Rates In Your City On May 2, 2022 Here | Gold Rate Today

Gold Rate Today: For 10 grams of 22-carat of metal, the Gold price in Mumbai is Rs 47,400 and Gold Price in Chennai is Rs 48,550. In Kerala, the Gold rate today is Rs 47,400.

Gold Rate Today | New Delhi: Gold rates today fell by Rs 10,800 per kg for 24-carat gold in India. For 24-carat gold, the prices per 10 grams were Rs 51,710. For 22-carat, the price of 10 grams of gold is Rs 47,400, down Rs 9,900 pr kg from yesterday.

According to Rahul Kalantri, VP Commodities, Mehta Equities Ltd., “On Friday, Gold price witnessed a decent correction to trade mildly below $1,900 after hitting a high of $1,920., while silver closed below its important support level of $23. Gold prices remain dicey around $1,900 despite printing a three-day rebound from the lowest levels since February. Even so, cautious optimism in the markets underpins the yellow metal’s recovery moves as the US dollar remains under pressure around a multi-month high ahead of the key monetary policy meeting by the Fed, as well as April’s Nonfarm Payrolls. The corrective pullback in Gold Price could also be linked to the Wall Street close that ended with heavy losses on Friday.”

He added, “However China’s holidays and downbeat PMIs for April join worsening covid conditions in one of the world’s largest bullion consumers to challenge the Gold Price. Additionally testing the precious metal is the Ukraine-Russia crisis and global economic fears due to the supply-chain disruptions.”

Kalantari also said, “We expect gold and silver prices will remain volatile to negative in today’s session. Gold has support at $1884-1874, while resistance at $1907-1920. Silver has support at $22.55-22.40, while resistance is at $23.10-23.34. In INR terms gold has support at Rs 51,470–51,240, while resistance is at Rs51,950–52,050. Silver has support at Rs 62,940-62,415, while resistance is at Rs64,120–64,610.”

Gold Rate Today: Check Latest Gold Rates In Your City On May 2, 2022, Here

The following prices may not match the local prices because these do not include GST, TDS and other taxes. These are the prices per 10 grams of 22-carat of gold in various cities across the country. The rates have been taken from goodreturns.in.

City	22 Carat Gold Today	24 Carat Gold Today
Chennai	₹48,550	₹52,970
Mumbai	₹47,400	₹51,710
Delhi	₹47,400	₹51,710
Kolkata	₹47,400	₹51,710
Bangalore	₹47,400	₹51,710
Hyderabad	₹47,400	₹51,710
Kerala	₹47,400	₹51,710
Pune	₹47,480	₹51,790
Vadodara	₹47,480	₹51,790
Ahmedabad	₹47,460	₹51,770
Jaipur	₹47,550	₹51,860
Lucknow	₹47,550	₹51,860
Coimbatore	₹48,550	₹52,970
Madurai	₹48,550	₹52,970
Vijayawada	₹47,400	₹51,710
Patna	₹47,480	₹51,790
Nagpur	₹47,480	₹51,790
Chandigarh	₹47,550	₹51,860
Surat	₹47,460	₹51,770
Bhubaneswar	₹47,400	₹51,710
Mangalore	₹47,400	₹51,710
Visakhapatnam	₹47,400	₹51,710
Nashik	₹47,480	₹51,790
Mysore	₹47,400	₹51,710

Gold is generally used as a hedge against inflation, high inflation rates have made gold prices highly volatile in the last few weeks.